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National affordable housing is in danger yet again. Kevin Brady, chairman of the House Ways and Means Committee, introduced new tax reform legislation. The proposed bill significantly cuts funding for Housing Bonds and Housing Credit projects. While the plan does not make any cuts to Low-Income Housing Tax Credits, it cuts other affordable housing programs which results in a loss of many of the nation’s affordable housing monies.

Mortgages account for the “nation’s largest consumer credit market,” at an approximate value of $10 trillion and in recent years, mortgage delinquency rates decreased significantly. The Consumer Financial Protection Bureau (CFPB) wants to ensure the downward trend continues. As a result the agency launched a new edition of its Mortgage Performance Trends tool. The CFPB’s newest version of this tool determines nation and locality trends through tracking borrowers delinquency status within one to three payments behind and borrows delinquency status four or more months behind.